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China Nepstar Chain Drugstore Reports Third Quarter 2011 Financial Results
Date:11/28/2011

SHENZHEN, China, Nov. 28, 2011 /PRNewswire-Asia-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or the "Company"), the largest retail drugstore chain in China based on the number of directly operated stores, today announced its unaudited financial results for the third quarter ended September 30, 2011.

Financial HighlightsFor the quarter ended September 30, 2011:

  • Revenue increased 1.9% to RMB608.6 million (US$95.4 million), compared to revenue of RMB597.0 million in the third quarter of 2010
  • Gross margin was 47.5%, compared to 49.8% in the third quarter of 2010
  • Same store sales increased by 6.5% over the prior year's period
  • Net income was RMB1.2 million (US$0.2 million), compared to RMB10.4 million in the third quarter of 2010
  • Net cash flow from operations was RMB34.1 million (US$5.4 million), compared to RMB 38.4 million in the third quarter of 2010

  • Mr. Fuxiang Zhang, Chief Executive Officer of Nepstar, commented, "Our strategy of positioning Nepstar as a neighborhood store for one-stop pharmacy and convenience shopping is executed in the midst of highly publicized Chinese healthcare reform, which presents new dynamics of both challenges and opportunities. On the one hand, our gross margin has been facing significant downward pressure due to the price cap policies covering increasing number of pharmaceuticals in the market. On the other hand, we observe that the reform is also exerting pressure on pharmaceutical manufacturers. We see this as an opportunity to reinforce our pharmacy business, as we believe more pharmaceutical manufacturers are looking to retail channels to leverage their production capacity.

    "At Nepstar, we continue to work on introducing new products in both pharmaceutical and non-pharmaceutical categories, streamlining our operations and growing same store sales to stan
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    SOURCE China Nepstar Chain Drugstore Ltd.
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